In Utila (as with most of Honduras) U.S. Dollar banknotes can be used in place of the Lempira, with the local stores and businesses usually giving exchange rates at the same (or sometimes better) than the local Honduran banks, and without charging exchange commissions.

Hendersons Supermarket used to cash US Dollar Travelers checks from most Travelers Check Issuers, but stopped doing this in March 2005 after Archie Henderson was mugged on the mainland while carrying the travelers checks. Hendersons Supermarket still exchanges US Dollars into Lempiras and vice-versa at about the same rate as the local banks, but without the long wait in the queue.
Some of the Scuba Diving Resorts may accept/cash travelers checks.

It is very difficult to cash Travelers checks in currencies other than US Dollars.

An
increasing number of Utila businesses accept credits cards, VISA being the most
widely accepted, followed by MasterCard. Generally speaking American Express is
only accepted by some of the Resorts, but it is a 'fluid' situation. Nearly all
the Scuba Dive Shops and Resorts plus the larger Supermarkets and Stores accept
VISA credit cards. Be warned, that in Honduras VISA is the most widely accepted
card, followed by MasterCard, with some establishments (typically Hotels) also
accepting American Express. The best and most widely used card is VISA.

The first ATM in Utila went into operation on 19-Jul-2005. As at
15-May-2010, there are now 2 ATM machines in Utila, One at Banco Atlantida and another near the Medical Store.
These machines accept
a variety of major credit and debit cards.

.

VISA
Cash withdrawals are available over the counter at Banco Atlantida